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Technology Stocks : S3 (A LONGER TERM PERSPECTIVE) -- Ignore unavailable to you. Want to Upgrade?

To: Glenn Norman who wrote (12662)	1/29/1999 4:54:00 AM
From: Don Earl	Read Replies (1) \| Respond to of 14577

Hi Glenn, I think it would be worthwhile for you to listen to the conference call if you haven't already. The number and code are posted up thread someplace. SIII has got to be the most contrary stock I've ever seen. Pure logic doesn't work on it at all. It's almost as ridiculous that it went up a buck today as it was for it to go to a buck and a half in October. Your reasons for thinking it should be a good short are perfectly valid. Unfortunately, with support confirmed in the low 6s and resistance way up at 9 1/4, it might be a better plan to look at what it IS doing instead of what it SHOULD do. Techs are in high favor, and the NASDAQ keeps trending higher. This goofy market loves momentum and nothing else seems to matter. Holding a short position over night in this market is burning a lot of people. If the premium on March or April 10s goes under a buck, some puts might be a good bet. I don't think anyone short under 7 1/2 is going to have much fun over the next few weeks. I sold some covered March 7 1/2 calls against part of my position today, probably a bit early but I wanted to raise a little cash for my "dog" stock portfolio. Been picking up a few medical services, financial and oil services stocks that are beat pure to death right now. Even picked up some stock in a gold mine (hole in the ground with a liar on top?) for 22 cents. With the techs going nuts, there's all kinds of bargains in other sectors. Lots of good stuff trading well below 1/2 book with good cash positions. Good luck with your short position but if you're trying to explain short term revenue problems, I think you'll find that most of us already have a fairly good idea of the situation. Regards, Don